Compound Chocolate Market

Compound Chocolate Market

Compound Chocolate Market Forecasts to 2028 - Global Analysis By Product (Real Chocolate and Compound Chocolate), Type (Milk Chocolate, Dark Chocolate and White Chocolate), Form( Choco Chips/Drops/Chunks, Chocolate Coating, Chocolate Slab and Other Forms), Application, Distributive channel and By Geography

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Published: 2023 ID: SMRC23014

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $29.16 BN

Projected Year Value (2028)

US $45.44 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Middle East & Africa

According to Stratistics MRC, the Global Compound Chocolate Market is accounted for $29.16 billion in 2022 and is expected to reach $45.44 billion by 2028 growing at a CAGR of 7.67% during the forecast period. Real chocolate is made primarily of cocoa mass and cocoa butter, whereas compound chocolate substitutes vegetable oil for cocoa butter and cocoa powder. A genuine type of chocolate is made from a nutritious seed that has been roasted to bring out its flavors. However, the efficacy of chocolate (compound type) lies in technical advantages such as high heat resistance, bloom resistance, and others that make it suitable for consumption in warmer countries and easier to apply.

According to the Cocoa Association of Asia(CAA), Asia’s cocoa grindings fell by almost 10% in the first half of 2020 as compared to the same period in 2019.

Market Dynamics:


Increased Demand for Premium and Innovative Confectioneries

Confectionery relies on premiumization in a mature market that is still growing slowly. In the United States, there is a particular interest in artisanal and gourmet-style options, which frequently focus on the origin of cocoa, its content in the finished product, and the use of important additional ingredients and flavors. While consumers are focused on obtaining health benefits, their desire to indulge in novel and flavorful confectioneries remains strong. Consumers continue to place a premium on taste and texture when purchasing chocolate confectionery. Brands continue to experiment with new sweet and savory flavor combinations. For example, in order to create more memorable and engaging sensory experiences for consumers, Barry Callebaut incorporates contrasting creamy and crunchy textures into chocolate products.


Raw material price fluctuations

This market is dependent on the global supply, quality, and cost of raw materials. Price and supply fluctuations in raw materials, such as cocoa, can have a negative impact on the market due to crop disease, climate change, and labor unavailability. Failure to recover higher prices or shortages in the availability or quality of raw materials such as cocoa butter, cocoa powder, sugar, and others could have a negative impact on the market. Significant changes in regulatory controls, legal systems, and customs in the regions also have an impact on product supply and impede market growth.


Usage and benefits of the cocoa powder

Theobromine, found in cocoa powder, helps reduce inflammation and protects against serious diseases. Because cocoa contains a high concentration of phytonutrients while being low in fat and sugar, the calories obtained from cocoa powder are rich in beneficial compounds. Raw products are often less processed and healthier because they are made from agitated, dried, unroasted cacao beans. Nonetheless, dark chocolate with at least 70% cacao is a good source of antioxidants and minerals, creating a massive market opportunity.


Market growth is stifled by volatile cocoa prices and limited cocoa production.

The global Compound Chocolate market expected to hamper growth during the forecast period, Volatile cocoa prices and limited cocoa production stymie market growth. Cacao products, such as unsweetened cocoa powder, nibs, and dark chocolate, are high in minerals. Raw cacao with minimal processing contains less or no added sugar and is higher in antioxidants than fully processed cacao, slowing market growth.

Covid-19 Impact:

The COVID-19 pandemic has had a significant impact on the food and beverage processing industry. The socioeconomic situation has had a negative impact on specific product consumption patterns. Since most countries went into quarantine in 2020 to halt the spread of the virus, demand for real and compound chocolate in the hospitality sector has dropped significantly. The most difficult challenge was gathering cocoa from smallholder farmers and delivering it to cocoa exporters and cocoa processors for chocolate production. Transportation constraints and border closures exacerbated the situation. As a result, chocolate manufacturers faced a shortage of raw materials, affecting their sales. For example, due to the pandemic, Barry Callebaut AG, a leading manufacturer of premium chocolate, reported a slowdown in the first six months of fiscal 2020.

The dark chocolate segment is expected to be the largest during the forecast period

The dark chocolate segment is expected to have a lucrative growth over the forecast period. Due to rising demand for products with dark chocolate's health benefits, the dark chocolate segment is expected to hold a significant share of the market in the coming years. It aids in the management of insulin and blood pressure, boosts the immune system, and inhibits the growth of cancer cells. Furthermore, rising spending on dark chocolate products is expected to fuel segment market growth.

The Confectionery segment is expected to have the highest CAGR during the forecast period

Confectionery segment is expected to grow at a significant CAGR during the forecast period. Due to its numerous health benefits, chocolate is the most popular confectionery item in the world, and many companies are currently developing sugar-free and natural chocolate products for health-conscious city dwellers. Furthermore, rising confectionery industry demand is driving market segment expansion.

Region with highest share:

The North America region market is estimated to witness a highest share of the global Compound Chocolate market during the forecast period Compound chocolate demand in North America is expected to grow, supported by rising demand for premium chocolate and confectionery items. Sugar-free, organic, and dark chocolate consumption is increasing as people become more interested in living healthy lifestyles. Compound chocolate's properties, such as its low price compared to pure cocoa-based chocolates and ability to harden without tempering, make it an ideal choice for food manufacturers in a variety of industries, including bakery, confectionery, ice cream, and frozen desserts. Milk chocolate, along with other flavors, has a sizable market share in the North American compound chocolate market. Companies are developing long-term solutions for sourcing and using cocoa butter substitutes or cocoa butter equivalents in confectionery products.

Region with highest CAGR:

Middle East and Africa region is estimated to witness a highest CAGR share, due to the increased product accessibility in local retail stores is responsible for this expansion. Furthermore, owing to favorable government initiatives like tax breaks for chocolate makers and grinders, the area should have greater access to goods. One more aspect promoting regional development is the rising demand for artisanal chocolates. The region's chocolate sales are also anticipated to increase as a result of a number of important factors, including growing consumer awareness, product innovation, middle-class consumers' increasing disposable incomes, and manufacturers' expansion of their distribution networks.

Key players in the market

Some of the key players in Compound Chocolate market include Alpezzi Chocolate SA De CV , Barry Callebaut AG , Blommer Chocolate Company , Cargill Incorporated , CEMOI Group , Ferrero International S.A. , Foley's Candies LP , Fuji Oil Company Limited , Ghirardelli Chocolate Co. , Guittard Chocolate Co. , Kerry Group Plc Mars Incorporated , Mondelez International , Nestlé S.A. , Olam International Ltd. , Puratos Group Nv , Republica del Cacao , Tcho Ventures Inc. , The Hershey Company and Varihona Inc.

Key Developments:

In January 2022, Mondelez International launched Oreo frozen desserts. The new line will include Oreo bars, cones, sandwiches, and tubs. The bars and cones contain Oreo pieces and are dipped in a coating made from crushed Oreo wafer pieces. The sandwiches feature two large Oreo wafers. All of the products feature a creme-flavored base with Oreo cookie pieces.

In June 2021, Puratos U.K., a multinational organization that offers innovative products, launched two new chocolate products in its Belcolade range that aim to maintain the taste of real Belgian chocolate despite containing 40% less sugar. Belcolade Selection Noir, made from 55% cocoa, a 'balanced' dark chocolate with 'fruity notes and a smooth roasted cacao flavor,' while Belcolade Selection Lait, containing 34% cocoa, is milk chocolate with 'sweet caramel notes and cacao flavor.

In March 2021, Nestlé S.A., the world's leading food & beverage company, announced the launch of chocolates in the European market, made exclusively from cocoa beans, introducing Incoa, a chocolate bar made of 70% dark chocolate, under the Les Recettes de L'Atelier brand.

Product Types Covered:
• Real Chocolate
• Compound Chocolate

Types Covered:
• Milk Chocolate
• Dark Chocolate
• White Chocolate

Forms Covered:
• Choco Chips/Drops/Chunks
• Chocolate Coating
• Chocolate Slab
• Other Forms

Applications Covered:
• Bakery and Confectionery
• Ice Cream and Frozen Desserts
• Chocolate Beverages
• Snacks
• Confectionery
• Beverages
• Cereals
• Sauces and Spreads
• Other Applications

Distribution Channels Covered:
• Direct
• Indirect

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Compound Chocolate Market, By Product
5.1 Introduction
5.2 Real Chocolate
5.3 Compound Chocolate

6 Global Compound Chocolate Market, By Type
6.1 Introduction
6.2 Milk Chocolate
6.3 Dark Chocolate
6.4 White Chocolate

7 Global Compound Chocolate Market, By Form
7.1 Introduction
7.2 Choco Chips/Drops/Chunks
7.3 Chocolate Coating
7.4 Chocolate Slab
7.5 Other Forms

8 Global Compound Chocolate Market, By Application
8.1 Introduction
8.2 Bakery and Confectionery
8.3 Ice Cream and Frozen Desserts
8.4 Chocolate Beverages
8.5 Snacks
8.6 Confectionery
8.7 Beverages
8.8 Cereals
8.9 Sauces and Spreads
8.10 Other Applications

9 Global Compound Chocolate Market, By Distribution Channel
9.1 Introduction
9.2 Direct
9.3 Indirect
9.3.1 Hypermarkets/Supermarkets
9.3.2 Convenience Stores
9.3.3 Specialty Stores
9.3.4 Independent Retailers
9.3.5 Online Retailers

10 Global Compound Chocolate Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Alpezzi Chocolate SA De CV
12.2 Barry Callebaut AG
12.3 Blommer Chocolate Company
12.4 Cargill Incorporated
12.5 CEMOI Group
12.6 Ferrero International S.A.
12.7 Foley's Candies LP
12.8 Fuji Oil Company Limited
12.9 Ghirardelli Chocolate Co.
12.10 Guittard Chocolate Co.
12.11 Kerry Group Plc
12.12 Mars Incorporated
12.13 Mondelez International
12.14 Nestlé S.A.
12.15 Olam International Ltd.
12.16 Puratos Group Nv
12.17 Republica del Cacao
12.18 Tcho Ventures Inc.
12.19 The Hershey Company
12.20 Varihona Inc.

List of Tables
1 Global Compound Chocolate Market Outlook, By Region (2020-2028) ($MN)
2 Global Compound Chocolate Market Outlook, By Product (2020-2028) ($MN)
3 Global Compound Chocolate Market Outlook, By Real Chocolate (2020-2028) ($MN)
4 Global Compound Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
5 Global Compound Chocolate Market Outlook, By Type (2020-2028) ($MN)
6 Global Compound Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
7 Global Compound Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
8 Global Compound Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
9 Global Compound Chocolate Market Outlook, By Form (2020-2028) ($MN)
10 Global Compound Chocolate Market Outlook, By Choco Chips/Drops/Chunks (2020-2028) ($MN)
11 Global Compound Chocolate Market Outlook, By Chocolate Coating (2020-2028) ($MN)
12 Global Compound Chocolate Market Outlook, By Chocolate Slab (2020-2028) ($MN)
13 Global Compound Chocolate Market Outlook, By Other Forms (2020-2028) ($MN)
14 Global Compound Chocolate Market Outlook, By Application (2020-2028) ($MN)
15 Global Compound Chocolate Market Outlook, By Bakery and Confectionery (2020-2028) ($MN)
16 Global Compound Chocolate Market Outlook, By Ice Cream and Frozen Desserts (2020-2028) ($MN)
17 Global Compound Chocolate Market Outlook, By Chocolate Beverages (2020-2028) ($MN)
18 Global Compound Chocolate Market Outlook, By Snacks (2020-2028) ($MN)
19 Global Compound Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
20 Global Compound Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
21 Global Compound Chocolate Market Outlook, By Cereals (2020-2028) ($MN)
22 Global Compound Chocolate Market Outlook, By Sauces and Spreads (2020-2028) ($MN)
23 Global Compound Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
24 Global Compound Chocolate Market Outlook, By Distribution Channel (2020-2028) ($MN)
25 Global Compound Chocolate Market Outlook, By Direct (2020-2028) ($MN)
26 Global Compound Chocolate Market Outlook, By Indirect (2020-2028) ($MN)
27 Global Compound Chocolate Market Outlook, By Hypermarkets/Supermarkets (2020-2028) ($MN)
28 Global Compound Chocolate Market Outlook, By Convenience Stores (2020-2028) ($MN)
29 Global Compound Chocolate Market Outlook, By Specialty Stores (2020-2028) ($MN)
30 Global Compound Chocolate Market Outlook, By Independent Retailers (2020-2028) ($MN)
31 Global Compound Chocolate Market Outlook, By Online Retailers (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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